Energy will cost European businesses an extra €17 billion (£14 billion) by 2015, with the closure of old power stations, tighter environmental legislation and fluctuation in feedstock costs among the causes. ›

President Vladimir Putin warned European leaders on Thursday Russia would cut natural gas supplies to Ukraine if it did not pay its bills and said this could lead to a reduction of onward deliveries to Europe. ›

Shale gas production in Britain could begin within four years if the current crisis in Ukraine escalates to such an extent that a national state of emergency is declared, the chief executive of Cuadrilla Resources said. ›